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The Dynamics of the Profit Rate in Spain (1954—2001)

Research Area of Society and Capitalist Accumulation, Department of Economics, Universidad Autónoma Metropolitana, Azcapotzalco, Mexico City, scamara{at}correo.azc.uam.mx

The article evaluates the Spanish economy from 1954 to 2001 from the standpoint of capital profitability. The profit rate combines a cyclical behavior caused by evolution of income distribution and a downward trend caused by increase in capital composition. Increase in capital composition is caused by mechanization of the economy, while the evolution of income distribution is conditioned by a particular performance of real wages.

JEL classification: P-17, E-11, J-30

Key Words: labor theory of value • profit rate • technology of production • income distribution

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Review of Radical Political Economics, Vol. 39, No. 4, 543-561 (2007)
DOI: 10.1177/0486613407306822


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This Article Abstract Free Full Text (Free PDF) Free Alert me when this article is cited Alert me if a correction is posted Citation Map Services Email this article to a friend Similar articles in this journal Alert me to new issues of the journal Add to Saved Citations Download to citation manager Request Permissions Request Reprints Add to My Marked Citations Citing Articles Citing Articles via Google Scholar Citing Articles via Scopus Google Scholar Articles by Cámara Izquierdo, S. Search for Related Content Social Bookmarking                         What's this?